Bitcoin, ether and XRP selloff wipes out $1.5 billion in leveraged crypto bets
ITF Team1 min read
A sharp drop in major cryptocurrencies erased about $1.5 billion of leveraged positions, with most forced closures coming from long bets and Binance accounting for nearly half of the total.
A sudden sell‑off in Bitcoin, ether and XRP has eliminated roughly $1.5 billion of leveraged crypto exposure, according to data on forced liquidations. The majority of the closed positions were long bets, which made up almost 84 % of the total closures, indicating that traders who were betting on price rises were hit hardest.
Long‑side dominates forced closures
- Long positions accounted for nearly 84 % of all forced liquidations
- The sell‑off primarily affected Bitcoin, ether and XRP
Binance handles most of the volume
- Binance processed close to half of the total forced closures
- The exchange’s share reflects its dominant role in leveraged crypto trading
What traders are watching next
- Whether short sellers begin to unwind as prices stabilize
- Potential rebound in Bitcoin, ether and XRP that could trigger fresh margin calls
- Upcoming data releases or regulatory news that may influence crypto volatility
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- Coinbase posts $719 million Q3 profit driven by crypto holdings
- Bitcoin jumps to $81.5K as US GDP beats expectations
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This article is compiled from international market news for information only. It is not investment advice.